<The competent authorities are currently working on launching the «National Infrastructure Fund» with the aim of developing infrastructure projects and private sector participation in financing and privatization processes and contributing to reducing dependence on government support by providing innovative financing and non-financing solutions. The fund will enjoy public legal personality, financial and administrative independence, and will be organizationally linked to the National Development Fund, and according to the regulations the fund provides financing in all its forms, including loans of various types and concluding contracts and agreements with any of the government or private financing entities for the purposes of financing arrangements between lenders and the <The Fund also enters into contracts, agreements and memorandums of understanding related to the Fund's activity with parties inside and outside the Kingdom in the English language, agrees to determine the system applicable to the subject matter of the dispute, and includes in the contracts a clause to resort to arbitration or conclude an arbitration agreement, provided that this is in the interest of the Fund and in accordance with the controls and policies set by the National Development Fund, accepts mortgages and other guarantees of fulfillment and provides guarantees in all its forms in accordance with the controls set by the Council and sells and purchases debts to the public and private sectors after evaluating them according to the controls and policies set by the National Development Fund, and <The Fund shall have a Board of Directors consisting of seven members, including the President, taking into account that they have qualifications, experience or job specializations commensurate with the work of the Fund, and the President may nominate members, and the President chooses from among the members of the Board those who represent him in presiding over meetings in his absence, and the term of membership in the Board is three years, renewable once by a decision of the Chairman of the Board of Directors of the National Development Fund, and the Fund has an independent annual budget and its resources consist of the support provided to it from the State in serving its activities.